UPDATE: Western Alliance Q1 Adj EPS $1.72 Beats $1.66 Estimate, Sales $728.80M Beat $697.04M Estimate
Portfolio Pulse from Benzinga Newsdesk
Western Alliance (NYSE:WAL) reported Q1 adjusted EPS of $1.72, surpassing the $1.66 estimate, marking a 3.61% beat. However, this represents a 25.22% decrease from last year's $2.30 EPS. Quarterly sales reached $728.80M, exceeding the $697.04M forecast by 4.56% and showing a 32.05% increase from the previous year's $551.90M.
April 18, 2024 | 8:42 pm
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POSITIVE IMPACT
Western Alliance reported a strong Q1 with EPS and sales beating estimates, despite a decrease in EPS compared to last year.
The positive earnings and sales beat indicate strong financial health and operational efficiency, which typically lead to positive investor sentiment and could drive the stock price up in the short term. However, the decrease in EPS year-over-year might temper some of the positive momentum.
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